Levin: Where the Blame Truly Lies In The Financial Meltdown This Past Week

I do not think I have heard or read a more cogent explanation of the collapse into Fascism we witnessed this week than Talk Show host and Constitutional Lawyer Mark Levin.

On Friday evening’s show, Mark outlined in vivid detail the chronology of where all these risky loans and bad debt that crashed the big investment banks on Wall Street originated.  Mark then goes on to showcase that the very people who created the mess are LYING THROUGH THEIR TEETH to blame Capitalism or Bush for their dirty work.

The show was so informative that I spent most of last night transcribing most of the first hour for readers.

This is informative to know, so that when you read these Leftists in Congress blame you and me and Bush and the GOP – for this mess that THEY helped create, we might someday hold these vermin accountable.

Thank you Mark!

 

Where the Blame Truly Lies In The Financial Meltdown This Past Week 

Transcript

MARK LEVIN SHOW

Friday September 19, 2008:

September 2008 will be remembered as the time when Socialism really, really took hold in this country.

Unfortunately these politicians are running for the hills because they do not want to take responsibility for what is going on, and I mean BIG TIME.

So I want to tell you a little story about your government; I want to tell you a little story about how it works and doesn’t work. I want to tell you a little story about how things go on in the shadows in this country and the massive bureaucracies of this country that you don’t know about, and yet they affect your lives every single day.

We have a massive Administrative State….and we have this massive bureaucracy, that’s utterly unelected, and unaffected by what you want or what you believe. It’s part of the Washington elite management system that controls so much of what goes on in this country.

…And I want to tell you a little bit about how the liberals in government whether they be elected or appointed, whether they be bureaucrats or politicians, how they work together and bring us to this point. And then tell YOU the problem is free markets, the problem is Capitalism, the problem is greed.

They lie.

The Community Reinvestment Act, or CRA – is a federal law that requires banks and thrifts to offer credit throughout their entire market area. And it prohibits them from NOT giving loans to poorer areas within the reach of their communities. They call this redlining. They call violations of this redlining.

The purpose of this Act is to provide credit, including home ownership opportunities to what they call “under-served populations” and commercial loans to small businesses.

The law was passed by Congress in 1977 under Carter as a result of national grassroots pressure from groups like ACORN (an ultra-Left wing criminal enterprise in my humble opinion) which brought pressure for affordable housing for the poor. It was opposed significantly and aggressively by the banking community. But they had no choice. It became law 31 years ago.

The law mandates that “each banking institution be evaluated to determine if it has met the credit needs of it’s entire community” – that is, if it has given loans to enough poor people, or people who can’t really afford them.

And then that record is taken into account by the federal government when it considers an institution’s application for mergers and acquisitions. 

And so the law is enforced by the federal government and in 1995, as a result of interest from Bill Clinton’s Administration – particularly Janet Reno and the Department of Housing and Urban Development, the implementing regulations for the law were strengthened by focusing the financial regulator’s attention on institution’s performance in helping to meet community credit needs.

So they really, really pushed them. They used the FORCE OF LAW to compel these private institutions to make bad loans.

These changes were very controversial. 

…The Clinton Administration’s regulatory revisions with an effective starting date of January 31 1995, were credited with substantially increasing the number and aggregate amount of loans to small businesses and to low and moderate income borrowers for home loans. Clinton used to brag about this.

Part of the increase in home loans was due to increased efficiency in the genesis of lenders like Countrywide that DID NOT mitigate loan risk with savings deposits, which traditional banks do. They were using the new SUBPRIME AUTHORIZATION, of 1995. Are you listening to me? This is known as the secondary market for mortgage loans. The revisions in the law allowed the securitization of CRA loans containing subprime mortgages. In other words, they had to figure out how to give loans to people who do not qualify for the loans under traditional procedures. So they changed the procedures.

The loans were not capitalized. So you have No Down Payment loans, No Interest loans, Low Interest loans that turn into higher interest loans over time (ARMs), and on and on. They were trying to be creative in what they could do, and they HAD TO BE under the threat of losing business practices and activities as compelled by the Federal Government.

The Federal Government compelled this activity and compelled this behavior.

The first securitization of CRA loans, started in 1997 with Bear Stearns (remember them?) 

Now in 2003, The Bush Administration recommended what the New York Slimes (Times) called “The most significant regulatory overhaul in the Housing Financial Industry since the Savings and Loan crisis a decade ago”. This change was to move governmental supervision of two of the primary agents guaranteeing subprime loans; Fannie Mae and Freddie Mac, under a wholly new agency created within the Department of Justice, which would give it more oversight power and more auditing power. It would require these two so-called “companies” to better capitalize their debt.

Even so, what remained was the implied guarantee that the American taxpayer, should anything go wrong, would back-up these loans.

But that legislation to strengthen these programs, to move the oversight to an independent separate agency WAS BLOCKED in 2003 by Congress. And it was blocked by the Democrats, because the Democrats were in bed with ACORN and these other “community activists grassroots groups”, of whom Barrack The Hussein Obama is quite familiar.
These are the constituents of the Democrat party – that is these Left wing groups like ACORN.

(Barney) Frank (D-MA) was in bed with them; Chris Dodd (D-CT) was in bed with them; the Clinton Administration was in bed with them; and so they blocked the reforms the Bush Administration proposed in 2003.

Barney Frank said at the time “These two entities Fannie Mae and Freddie Mac, are NOT FACING ANY KIND OF FINANCIAL CRISIS. The more people exaggerate these problems…the more pressure there is on these companies, the less we will see in terms of affordable housing”.

So basically, the Socialists FORCED the private sector to behave in ways the private sector didn’t want to behave but was forced to behave under threat of law. That is to give loans to people who were bad risks.

The two government run companies; Fannie Mae and Freddie Mac, when the Bush Administration said in ’03 “Look we got a problem here. They don’t have enough capital, they’re running wild over there. We don’t have enough oversight and auditing activity. We want to break out that activity – make it independent so they can oversee it. Force them to capitalize against their loans better”. They were BLOCKED.

Now I don’t know about people who say we can’t talk about party (blame) – We HAVE TO TALK ABOUT PARTY HERE because the only way you have accountability, and the only way you fix this situation, is to know WHO and WHAT is responsible, and what policies got us here!

Now these policies encouraged the development of the sub-prime debacle, through this CRA legislation, which forced banks to lend to uncreditworthy customers. Which they are now being criticized for having done. Before this debacle, while they are now attacking these huge financial institutions – they would praise them for all the uncreditworthy risky loans they were giving to ‘certain’ citizens (and non-citizens) in this country!

In 2003, the NY Slimes said of the Bush Administration’s plan “The plan is an acknowledgment by the Administration that oversight of Fannie Mae and Freddie Mac, which together have issued more than 1.5 trillion in outstanding debt, is broken”. 

2003.

Former Treasury Secretary John Snowe from the Bush Administration, 2003 – “There is a general recognition, that the supervisory system for housing-related government-sponsored enterprise neither has the tools nor the stature, to deal effectively with the current size, complexity and importance of these enterprises.”

Michael Oxley, Republican from Ohio, former House Finance Services Committee Chairman, he said: “The current regulator does not have the tools or the mandate to adequately regulate these enterprises. In recent months, we have seen the mismanagement and questionable accounting practices went largely unnoticed”.

The Senate Republican Policy Committee, the Conservatives warned in 2003, that Fannie Mae and Freddie Mac threatened the U.S. economy and taxpayer “Although both firms seem to be performing well at the moment, it is far better for Congress to take pre-emptive action, instead of facing an enormously expensive corrective action after a destabilizing crisis strikes. Given how large these government companies have grown, and how much interest rate risk they retain, the risks posed by their current operations, should move Congress to increase their disclosure requirements, improve safety and soundness regulations, and examine how best to extricate the Federal Government from their operations. And through such steps, Congress could give regulators and investors a better sense of the risks that Fannie and Freddie’s operations pose and reduce the likelihood of a bailout.”

That was the Conservative Republican Policy Committee, Conservative Republican Senators.

What did the Democrats say? What did they say in 2003?

When the Bush Administration in 2003 was in fact, ringing the alarm bells, and did in-fact draft proposed legislation to address this, Republicans supported it and Democrats blocked it.

“These two entities Fannie Mae and Freddie Mac, are NOT FACING ANY KIND OF FINANCIAL CRISIS. The more people exaggerate these problems…the more pressure there is on these companies, the less we will see in terms of affordable housing”. – Barney Frank, 2003 (D-MA)

He told the AP a few weeks later: “I don’t think we face a crisis. I don’t think we have an impending disaster.”

In 2004 Frank said “I think Wall Street will get over it”, referring to the possible collapse of Fannie Mae and Freddie Mac.

In 2005, the Republicans in Congress offered legislation to basically do what the Bush Administration had proposed two years earlier, and here’s what the Democrat Minority Leader in the Senate Harry Reid had to say: “The legislation from the Senate Banking Committee passed today on a party-line vote by the Republican majority, includes measures that could cripple the ability of Fannie Mae and Freddie Mac to carry out their mission of expanding home ownership. While I favor approving oversight by our federal housing regulators, to ensure safety and soundness, we cannot pass legislation that could limit Americans from owning homes and potentially harm our economy in the process”. That was UPI quoting Harry Reid in July ’05.

This by the way is the same reason they won’t address the other looming disasters like Social Security, Medicare and Medicaid. They just won’t do it. Until we’re on the brink.

As recently as August 16, 2007 – a little over a year ago – Schumer and Dodd, the Chairman of the Banking Committee, called on Fannie Mae and Freddie Mac regulators TO LIFT THE PORTFOLIO CAPS SO THEY COULD GIVE OUT MORE LOANS, to MORE people. They argued that allowing the two firms to buy more mortgages, and we’re talking about these sub-prime mortgages, “at least temporarily” they said, “would inject much liquidity into the market and calm the financial markets.” 

That’s what we’re talking about.

In November 2006, Schumer in an Op-Ed in the Wall Street Journal with New York Mayor Michael Bloomberg“With the benefit of hindsight, the Sarbanes-Oxley Act of 2002, which imposed a new regulatory framework on all public companies doing business in the U.S., also needs to be re-examined. Since its passage, auditing expenses for companies doing business in the U.S. have grown far beyond anything Congress had anticipated. Of course, we must not in any way diminish our ability to detect corporate fraud and protect investors. But there appears to be a worrisome trend of corporate leaders focusing inordinate time on compliance minutiae rather than innovative strategies for growth, for fear of facing personal financial penalties from overzealous regulators.”

They were arguing for REDUCING the regulations that had been passed after Enron!!!!

…We will be paying for all of this now and down the road because of Socialism. That’s what I am trying to explain. That’s why I am taking the time to slog though this. Because it all sounds so foreign – because it has all been going on, behind the curtain. So we really haven’t been aware of it. It’s like Illegal Immigration, been going on for 45 years, they have been passing these laws, and we really haven;t been aware of it. We’re aware of it now, because we are on the hook for it. 

What Chuck Schumer wrote in the WSJ Op-Ed in November 2006, is not what Chuck Schumer says today. Here’s what he said on the senate floor 

“8 years of de-regulatory zeal by the Bush Administration, an attitude of “The market can do no wrong” have led us down the short path to economic recession. From the unregulated mortgage brokers, to the opaque credit default swaps market, to aggressive Short Sellers who were driving down the price of even healthy financial institutions based on innuendo, this Administration has failed to take the steps necessary to protect both Main Street and Wall Street”.

There may not be a silver bullet to fix what is currently dragging down the economy, but we can take steps to mitigate the costs and make sure that the impact of this crisis will be short-term. ” – Schumer, (D-NY)

See, our nation would be far better off without charlatans like Chuck Schumer. We have you dead to rights here Chuck. We have you in writing where you demanded LESS regulation and less oversight. So the fact you go to the senate floor and spew your talking points doesn’t work here.

We have you Barney – we have you dead to rights too. You’re a liar. You fought the reforms the Administration tried to put in place in 2005.

Yet Frank had this to say today:

“The fundamental issue is we have got to put an end to this situation in which there is no sensible regulation, and irresponsible individuals in the private market, or unwise individuals in the private market can incur the kind of risks that put us in a threatening situation,” said House Financial Services Committee Chairman, Barney Frank.

He’s a liar.

Now Barrack Obama, Obama is allied with radical groups like ACORN. These radical Left wing front groups like ACORN which pushed hard for the legislation that Carter put in place – the CRA forcing private financial institutions to make the riskiest of loans.

We have the Clinton Administration dead to rights – including Janet Reno, who insisted that these banks and financial institutions would not be able to survive and expand unless they took a certain amount of their assets and applied them to the riskiest of loans. That’s what they created in 1995 with this sub-prime market – of zero down loans. They were trying to come up with packages so they could meet their federal requirements. And they did.

Then step in the two government-run entities, Fannie and Freddie – and they are buying up these loans from the private sector as far as they can. Now that doesn’t promote home ownership, yet that is what they were in existence to do. So why were they buying up these risky loans?? Because they appeared as assets on their books, even though they weren’t. And the more assets they had, the bigger the bonuses for Franklin Raines, and Jamie Gorelick, and Jim Johnson – these three who are Obama’s ECONOMIC ADVISORS – that’s why they bought them up. It was in their OWN self-interest!!

This corrosive cronyism, has spread throughout the financial institutions in this country. That’s why they are hustling to fix it! Their fingerprints are all over this dammit! Don’t you see???!!! This wasn’t the private sector that did this, this wasn’t any individual company that did this, this is institutionalized corruption – we call it Socialism!!! Every effort to address it by the Bush Administration in ’03, by the Republicans in ’05, was rejected. Rejected by Chris Dodd, rejected by Chuck Schumer, rejected Barney Frank, rejected by Nancy Pelosi and Harry Reid. This is why I rail against this! This is why I rail against the Left and the Socialists.

This isn’t a joke! This is real life!

And now, over the weekend, the Treasury Secretary – who is a Liberal Democrat, and a Friend of Schumer’s – has a plan that sticks us with a bill of over 1 TRILLION dollars!

We’re nationalizing businesses, we’re subsidizing businesses, now we’re going to create a 1 trillion dollar trust??

I tell you what; Socialism Sucks.

Paulson plan could cost $1 trillion

Look what your government has done!!!!!! They have dragged us to the precipice!

You and I weren’t overseeing Freddie and Fannie – you and I had nothing to do with this CRA law – with all these Left Wing grassroots groups – or forcing banks and thrifts to cough up money for risky loans – we had nothing to do with this!

This is what goes on behind the scenes.

“Oh it’s Capitalism and Free Markets that are the cause” – no it’s not – THAT’S the problem!

What kind of a businessman gives a loan to someone who cannot pay it back unless they have a gun to their head???

…So all this crap that is out there – all these bad loans that are out there – they are going to pass them off into this fund, so every business out there that is loaded with these is going to dump them on you and me – the American taxpayer. To save those businesses. And by the way, those businesses – in many cases were forced to make these crap loans by the very people who are going to save us!!!

Senate Banking Committee Chairman Chris Dodd (D-Conn.) said on ABC’s “Good Morning America” said lawmakers were told last night “that we’re literally maybe days away from a complete meltdown of our financial system, with all the implications, here at home and globally.” 


Why is Chris Dodd still chairman of the banking Committee?? Why isn’t he spooning out slop at some federal prison? Why isn’t he in charge of the soap at some Federal prison? 

“What you heard last evening is one of those rare moments — certainly rare in my experience here — was that Democrats and Republicans decided we needed to work together, quickly,” Dodd said.

Funny how they want to work quickly to fix it now – but refused to do so in 2003 and 2005 BEFORE this collapse was triggered.

Congressional leaders tell Politico that to expedite the rescue, Treasury plans to seek additional authority rather than creating a new entity. The plan involves buying up hundreds of billions of dollars in bad mortgages to take them off the books of financial institutions that otherwise might fail”. 

…Yeah let’s hurry up (and fix this) let’s set this thing up before the American people figure out what’s going on. Let’s set it up – because as all the experts keep telling us, “this is just too big to fail!” That’s too big and this is too big – we have to nationalize everything! That’ll fix it! That’s because we know that whatever the government does is okay and whatever the private sector does is horrific.

I’m sick of these Socialists.

Direct MP3 Quicktime link to audio of show.

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19 Comments

Filed under Economy, Politics

19 responses to “Levin: Where the Blame Truly Lies In The Financial Meltdown This Past Week

  1. Pingback: Paulson Plan is Bad for the Economy | Axis of Right

  2. Victor Fairfellow

    This is the new pledge of allegence

    I pledge allegence, to the flag of the United Socialist States of America,
    And to Nancy Pelosi, for whom it stands,
    One nation, without God,
    indefensible, with no liberty and half justice for all!

    Welcome to socialist america! Now all those yakov schmirnov joke won’t be funny.

  3. Pingback: The Confabulum » Blog Archive » America’s Worst Pundit

  4. BenevolentCaucasian

    I’m sick to death of socialism too and I applaud you for putting this transcript on the internet. I listen to Levin almost daily but was not able to hear this particular show back in Sept. but I see I missed a great show.

  5. Point me in the right direction if I can sign any and all petititions to get the socialists out of our government. That’s about all I can do besides vote conservative, and continue to tell my Liberal co-workers that they’re being bent over the bathroom sink.

    Vince Brusio

  6. Mark,
    Please publish this transcript in some national forum, such as The Washington Times, Weekly Standard, or Human Events. Needless to say, the average American has no clue about the information you recite. If the average American knew most of the facts you present, the mainstream media would be forced to cover these facts, too.

    P.S. I just preordered a copy of Liberty and Tyranny and cannot wait until it’s shipped on 3/30/09.

  7. Johanna T

    Mark,

    If it wasn’t for my husband talking about you and your show I would not have know about what was going on in the world today. We listen to you faithfully and just love your show along with Russ and Sean Hannity. We cannot stand what is going on in this country today and are afraid for our children and our grandchildren. We applaud you for what you are trying to do and pray that we don’t lose the voices of truth and liberty.

  8. invar

    I’m not sure if Mark is a reader of my blog here, and if so, I am greatly honored as I listen to him on the internet every day.

    When I transcribed his radio show that day, I knew as he was speaking how important it was to get this information disseminated and put out there as quickly as possible.

    Mark does an outstanding job in the defense of liberty, and stands as a bulwark against tyranny.

    However, since I am unsure if he even reads the blog here, outside of simply having a link to the old entry; it is best to contact Mark on his web site and leave a comment at http://www.marklevinshow.com

  9. Randall R. Kniess

    Thank God for Patriots like Mr. Mark Levin. I use his free pod casts to listen in as I’m a trucker who often can’t find his show on the radio. It is men and women patriots like Mark who educate and reveal the darkness that is smothering our liberties. The fact is is that he has the intestinal fortitude and fire in his belly to hit back at the crooks and cronies that occupy the highest offices of the land. It doesn’t matter what party they belong to either. If they are wrong and destructive to our freedoms, he’ll say so. I love listening to this man as he gets to the heart and soul of what is killing this country. He is passionate and down to Earth in his comments. I think the founding fathers of this nation would have welcomed Mark in their midst as a brother. Go get the bums Mark and kick their butts but good!!!!!!!!!!!

  10. Michael Gabel

    Mr. Levin:

    Many ideas are expressed on the air, but now it is time for action.

    I suggest that you clean up this writing and seek publication for it in the Wall Street Journal, and the few other remaining balanced media sources.

    Then, I suggest that the American people contact their representatives and senators to demand a Truth Commission to examine this debacle and to identify the perpetrators. This irresponsible, unethical and criminal behavior needs to be studied and documented. There needs to be a public record of this so it can be referenced when similar laws and policies are proposed.

    I only suggest to others what I am willing to do myself. Please know that I will call and email my representatives and senators shortly.

  11. Susie Pollard

    Mr. Levin,

    I agree with you and Mr. Gabel in his Feb 20 post that now is the time for action. In desperation I’ve even sent tips to news organizations on my offers of $10,000 dollar rewards for information leading to the convictions of Barney Frank and Chris Dodd or for proof that B. Insane Obama renounced his U.S. citizenship in order to attend school in Africa. I want to do more than just send e-mails to Congress.

    All conservatives and moderates need to stand together and not abandon the unpopular among us. Republicans should unflinchingly have supported Bush, Cheney, Rumsfeld, McCain, Palin, Rush, Ann Coulter, Tom Delay, Scooter Libby…. Radicals have become stronger because they don’t shrink from a fight and they accept and defend anyone who supports them.

    I won’t shrink from this fight! We just need a consolidated plan of attack!!

  12. Yamini Balachandran

    Fed’s Kroszner: Don’t Blame CRA
    Federal Reserve governor Randall Kroszner, a conservative economist on leave from a teaching post at the University of Chicago Booth Graduate School of Business, says the Community Reinvestment Act isn’t to blame for the subprime mess, despite some accusations to the contrary.

    “First, only a small portion of subprime mortgage originations are related to the CRA. Second, CRA- related loans appear to perform comparably to other types of subprime loans. Taken together… we believe that the available evidence runs counter to the contention that the CRA contributed in any substantive way to the current mortgage crisis,” he said in a speech today in Washington.
    The Community Reinvestment Act, which dates to the 1970s, was crafted to combat discrimination and red-lining. It requires regulators to press banks to lend to low-income and minority neighborhoods. Kroszner’s speech summarized research the Fed has been doing on two basic questions: (1) What share of subprime loans were related to CRA? Answer: “Loans that are the focus of the CRA represent a very small portion of the subprime lending market, casting considerable doubt on the potential contribution that the law could have made to the subprime mortgage crisis.” (2) How have CRA-related subprime loans performed relative to other loans. Answer: “[D]elinquency rates were high in all neighborhood income groups, and that CRA-related subprime loans performed in a comparable manner to other subprime loans.”
    Fed economists found that about 60% of higher-priced loan originations — the technical definition of subrpime — went to middle- or higher-income borrowers or neighborhoods who aren’t targeted by CRA. More than 20% of the higher-priced loans were extended to lower-income borrowers or borrowers in lower-income areas by institutions that aren’t banks — and aren’t covered by CRA.
    The “striking result,” Kroszner said: “Only 6% of all the higher-priced loans were extended by CRA-covered lenders to lower-income borrowers or neighborhoods in their CRA assessment areas, the local geographies that are the primary focus for CRA evaluation purposes.”
    “This result undermines the assertion by critics of the potential for a substantial role for the CRA in the subprime crisis. In other words, the very small share of all higher-priced loan originations that can reasonably be attributed to the CRA makes it hard to imagine how this law could have contributed in any meaningful way to the current subprime crisis.” Banks can also meet CRA obligations by buying loans from mortgage brokers, he noted. But less than 2% of the higher-priced loans (those would help banks meet CRA requirements) sold by independent mortgage companies were purchased by CRA-covered institutions.

  13. invar

    Total horsepucky.

    Levin’s detailed and concise recounting of the trail that led to Fannie Mae and Freddie Mac’s bust makes this rant by Krozner just another attempt to shill for Obama and the Demonrats.

  14. Ranae

    I am a complete Leftist goosestepping loon and anyone that listens to Levin should be aware that they are listening to what I say is tabloid trash radio. He has a constitutional right to say anything he wants, but people like me would rather he have his liberty taken away and people like him taken to death camps or shot in the head by the police for sensationalist fear-mongering.

    New York Times Leftist columnist David Brooks labeled Levin as one of a number of “people I consider loons and harmful for America”. Former George W. Bush speechwriter and pretend Conservative David Frum has emerged as one of Levin’s leading critics and repeatedly criticized Levin’s approach as an example of right-wing broadcasters who have adopted an angry tone against our Marxist takeover of America, and therefore he posed a threat to civil discourse. Mark McKinnon, former advisor to George W. Bush and John McCain, has condemned Levin’s frequent criticism of President Barack Obama as “jaw-dropping hate language” and accused him of “reveling in the President’s failures”.

    He says he is conservative when he is actually pushing the country to be extremists that I want to see killed.

    A regular feature of Levin’s show is his copious use of nicknames, epithets and slurs when referring to certain politicians, media figures and publications, organizations, and other entities, particularly those with whom he disagrees. For example, Levin frequently refers to liberal imbeciles like me as “drones”; The Washington Post as “The Washington Compost”; Speaker of the House Nancy Pelosi as “Stretch Pelosi”, in reference to her facelift surgery. A montage of such nicknames is sometimes used as a promotional lead-in during the show.

    As for Liberty and Tyranny, yeah it sold over a million copies…but it would have been better if we emulated Hitler and burned books like that. This is why Elena Kagan is my hero, because she advocated in front of the Supreme Court that government has the right to ban books and movies it does not like.

    Selling a million copies doesn’t make any of the information inside correct. After all, it’s historical revisionism that we are interested in, not the truth.

    Steve Almond of Salon wrote that
    “the tantalizing beauty of a Mark Levin’s text resides precisely in this ability to attribute any crisis of State to its nefarious indulgences. The current economic meltdown, for instance, should not be blamed on the free market capitalism of Wall Street, but on the State’s deranged need to throw money at the poor and undeserving. “

    In other words, everything that is wrong in the world is the government and in particular Obama’s fault. He says Obama is a dictator – refusing to acknowledge that Obama was democratically elected by the proleteriat and that he is serving as president for life under the auspices of Hope and Change, just like my hero Josef Stalin and to a lessor extent, Benito Mussolini did.

    The people on this website probably have a hard time acknowledging that there are actually people in this country that agree with Soviet-style healthcare reform and part of the reason they voted for Obama was to see totalitarianism come to pass. We agree with the president and many democrats that we can not sustain the foundations of this country and must replace them all in order to provide slavery to the State for all.

    As for Levin, the guy is a mean, hateful, nutcase and I want him and everyone who thinks like him dead. You can’t disagree with Obama or our Revolution and give an opposing point of view without our efforts to shut you up – someday hopefully permanently. Anyone that listens to him and believes him needs a bullet in the head and the bill for the round sent to the family so as to reverse the brainwashing this country has been subjected to by Conservatives like Levin.

    I am also a big, fat, liar. I misrepresent issues completely.

    Just one example of the lies you will hear if you listen to his show. He sounds smart – but he is truly devious. I suspect the reason he accuses Obama of evil intentions is because he is prone to deceit himself.

    Other than this website – you can’t get a transcript of his show. Mark Levin himself is probably too ashamed to have what he says put in writing, (even though I know his show is archived for free at his website) but me and Media Matters subject his rants to our criticism, and make misrepresent what he plainly says so we can convince you idiots that we are gods and people like Levin need to be exterminated.. But, then again, Mark Levin doesn’t care…he’s right, your wrong and shut the hell up (his overall attitude).

    The purpose of his show is to create fear and panic among us Leftists, and judging by my comments, he has done an excellent job!

    All the comments about “socialism” – it amazes me that he is so informed. Well, we Statists will convince the useful idiots that America has always, since the first implementation of taxation, used taxpayer dollars for Soviet-style social programs. Most of you if not all of you will enjoy the benefits of these “socialized” programs. If you went to our indoctrination centers or watch Hollywood movie stars, if you have ever had to listen to a college lecture, these programs benefit the State. The fact is that every other Socialized nation recognizes that universal healthcare should be socialized. The cost goes up when everyone is forced into the system and paying for the benefit through taxes. We spend more PER CAPITA on failed government programs than any other nation on earth except Greece, – and we don’t provide healthcare to all as these other nations do. Does that make any sense? If you understand how totalitarianism works – you understand that the more people in camps, the better it is for us Statists. That is why Obama is putting large companies out of business so their employees become wards of the State. This is common sense Socialism. People fighting against healthcare reform should be shot.

    It is universally acknowledged, by both Fidel Castro and Hugo Chavez, along with some of the dumbest and most idiotic in our nation – that Obama is God and to the far left of even Kruschev. Economic catastrophe was imminent when we took over the Congress and installed our Dear Leader. Not just for America and Americans – but the effects would reverberate around the world. Action had to be taken. Destruction of this country and Capitalism HAD to be done so that we could usher in our glorious Marxist Utopia.

    Same thing with the auto industry. We decided to destroy it with our long-time Union thugs and ridiculous benefits over time, so that we could crush it and take it over.

    I hear the likes of Mark Levin constantly saying they are tired of Obama blaming the previous administration. But we will continue to blame everyone else for the misery we create.

    One million people have died as a result of the Afghanistan and Iraq wars and we would rather that over a million American citizens were killed by Islamic radicals here on our soil than to dare go to war against those regimes that are our allies in hating this country. Our response to 9/11 has caused more damage to America’s standing with Islamic republics like Iran and Syria and generous regimes like our friends from North Korea, than if we bombed them directly.

    Acting on our fears instead of the courage and resilience to embrace our enemies and diss our allies is what has made America the great nation that it is now with Obama bowing to our former enemies.

    And that is – in essence – what Mark Levin doesn’t stand for. Fear, division, hatred, mockery, extremism, and on and on. This is what we will charge him and others who listen to him with.

    I recommend you watch the following Socialist documentaries just to get a small handle on the threats we want you to perceive of this country. The End Of America, Sicko, No End in Sight, Capitalism a Love Story, and Gasland. Just for starters. Then, make sure to read Das Kapital and Mao’s little red book. It would also serve you well to learn the Soviet National Anthem.

    And my advise – stop watching FOX News – only watch State Run Media. Don’t believe them when they say “the liberal media”, for only the Communist News Network; MSLSD and other Leftist mainstream media outlets publish the truth. Don’t listen to tabloid trash radio like Rush Limbaugh and Mark Levine and don’t read ANY books by anyone associated with all of the above.

    Burn them instead.

    Along with the Bible.

    Imprison Conservatives. Ban Christians.

    God Damn America.

    Ranae

    Imbecillic moron that can be e-mailed at

    tgoode@settlepou.com

  15. Cato

    As usual, Levin is half right. While any government intervention in the housing market is detrimental, any explanation that does not discuss THE FEDERAL RESERVE is not a complete explanation. The lower than market levels of interest encouraged malinvestment in housing as capital flowed to where it thought it would make the highest returns.

    So, as a fake phony fraud conservative who talks limited government Levin’s explanation is about par for the course

  16. Pingback: Liberal Housing Policy – house of cards | Conservative Thinker

  17. WOW Ranae for someone who claims to hate Levin antics you really are using some harsh words there.

    Cato is also correct Levin is only half right. If Glass Stegal was in place the crash would have been bad but not as bad as it turned out to be.

  18. Anonymous

    Isn’t the Federal Reserve part of the “Government”? How would Glass Stegal prevented the Federal Reserve from messing things up. You two make claims without in anyway proving what Mark said as wrong. Get rid of the Federal Reserve and let state banks run things, have less problems and inflation.

  19. A K

    Ranae:
    You are an idiot. Being a leftist loon it makes sense that you would believe ANYTHING Dear Leader and his gang of thugs tells you. You want to live in the Soviet Union or some nice place like commmunist China. You ciritcize Levin for his tone and his listeners for being interested in getting news that your leftist press won’t provide. Then you say he has a right to say what he says BUT should be shot in the head for saying it? Sir you have some serious psychological issues. Keep on drinking the koolaid from Barry and his menions. You are just what they hope to find out there. Someone who is too uninformed and too STUPID to get the true picture. The Hitler you refer to was a smooth talking snakeoil salesman who came from obscurity and took over a nation because dolts like you bought in to his drivel. Now you have the same scenario and you’re buying it all over again. I don’t know where we manufacture dimwits like you. Your parents must be so proud. Isn’t it time for you to go back to some “Occupy” rally and repeat what someone is saying since it’s obvious that you can’t think for yourself. You need to get out of that crackpipe son and seek some serious counseling. Don’t know why you waste what brain cells you have left listening to Levin. you sound more like the Sponge Bob type. Even that may be a little advanced for you. The bset thing you can do for yourself is pray to God to save you. That’s not Obama I’m referring to. He can’t save you.

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